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424 Broadway

Empire Cannabis Clubs Signs Lease For 5th NYC Location At 424 Broadway
LEASEDMultiFamily

Empire Cannabis Clubs Signs Lease For 5th NYC Location At 424 Broadway

424 Broadway

$300

$300/SF

Building Size

4,200 SF

Asset Type

MultiFamily

Closing

Mar 1, 2023

AI

The lease for a retail property located at 424 Broadway in New York City has been finalized. The property is owned by The Jackson Group and will be occupied by Empire Cannabis Clubs. The deal was facilitated by Meyer Saff of Retail Zone.

Summary of transation details

  • Property Type: Retail
  • Asking Rent: $300/ft
  • Square Footage: 4,200
  • Date: 03/01/2023
  • Address: 424 Broadway, New York City
  • Market: New York City

Empire Cannabis Clubs will be opening their fifth location in New York City at 424 Broadway. This lease agreement marks their expansion in the city. Meyer Saff, from Retail Zone, represented Empire Cannabis Clubs in this transaction. For any potential sites for Empire Cannabis Clubs, Meyer Saff can be contacted at 917-596-5976 or [email protected].

Players

Meyer Saff

Retail Zone

Broker

5 deals

Broker
Jackson Group
Jackson GroupLandlord

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

52876.67%

Cash-on-Cash

-15112.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93